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Solar PV market sees rapid growth
Research - JULY 25, 2019

Solar PV market sees rapid growth

by Kali Persall

The solar photovoltaic (PV) market is on a strong growth trajectory this year, with installations predicted to reach a record high, according to Reuters.

Improving markets in countries around the world are contributing to the spike, as well as low auction prices, which could help boost capacity to 114.5 gigawatts, a 17.5 percent increase from last year.

It will be the first time new installations have surpassed 100 gigawatts.

Furthermore, installations are expected to continue rising around 125 gigawatts per year by the early 2020s, said analysts.

The countries that install between one to five gigawatts per year will be in the driver’s seat of this upward trajectory. Last year, there were seven markets; by 2022 there will be 19, according to the report.

To read more about the findings, click here.

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